BP confirmed it has delayed plans to drill a highly anticipated exploration well offshore Eastern Canada,dealing a blow to sentiment in a region where oil and gas activity has slowed in recent years. Industry observers in the Canadian Atlantic have been closely following BP's plans to drill a prospect known as Cape Freels off Newfoundland and Labrador,a target estimated to contain 4 bil-lion-5 billion barrels of recoverable oil and gas.It has been called one of the world's largest undrilled prospects with a geology resembling Petrobras’prolific Marlim field offshore Brazil,which produces a flood of associated gas with its bounty of crude. The UK supermajor had widely been expected to begin testing the prospect either this year or next.However,a spokeswoman for BP in Canada told Energy Intelligence that the first well will not be drilled until 2021.
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